Travelex, MasterCard Launch Multi-Currency Cash Passport
Travelex and MasterCard have partnered to launch the Multi-Currency Cash Passport prepaid MasterCard. The new US card can carry up to five foreign currencies at the same time, including British Pounds, Euros, Canadian Dollars, Australian Dollars and Japanese-Yen.
The pre-paid MasterCard is sold only through Travelex at travelex.com and more than 200 Travelex stores in the US. The card has both the magnetic strip and chip technology, so it’s easy to use both in the US and overseas where the chip technology is prevalent. It’s reloadable online and in Travelex stores.
Carriers can transfer funds from one currency to another. Foreign exchange rates will apply along with a 5.5 percent foreign exchange fee. Withdrawing cash from an ATM costs $2.50 outside of the US and costs $3 within the US. MasterCard will charge $3 per month for an inactivity fee if the card is not used.
For details visit multicurrencycashpassport.com.